Greetings all,
My apologies upfront for the topic – when searching the forum my linear thought couldn’t stray from a query as my subject matter!
Preamble: Locked in IP @ 3yr IO finance (5 months into term) in my name – never lived in as PPOR before.
Presently I am interested in a Jay Oh Bee where IP is located.
Any opinions on what may be most efficient?
For example, first thing that comes to mind is that when tennant lease expires, move in to retain status quo. Can I personally rent (or my wife) the IP at a market rate and still retain current status as IP? My thoughts – although not experienced specifically, is that tax, CGT, dep scheduling etc would be a pain in the butt to appropriate, and that finance breakage would not be worthwhile if in 3 years it’s time to move on with itchy feet…
Cheers
J
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